Balfour Beatty

Website: Balfour Beatty
Index: FTSE 250
EPIC: BBY
Supersector: Construction and Materials
Sector: Construction and Materials
Subsector: Heavy Construction
Market Cap: £3.71B
Payout Frequency: Semi-Annual

Next Balfour Beatty Dividend

Balfour Beatty next goes ex-dividend on 14/05/2026. This will be the Final dividend for 2026.

The dividend per share amount is 9.8000p (GBP) and the payment date is 01/07/2026.

Key Dividend Details

Final dividend: 9.8p per share (FY25)
Interim dividend: 4.2p per share (FY25)
Total FY25 dividend: 14.0p per share (up 12% YoY from 12.5p)
Ex-dividend date: 14/05/2026
Record date: 15/05/2026
Payment date: 01/07/2026
DRIP election deadline: 10/06/2026
Dividend policy: ordinary dividend targeted at ~40% payout of underlying PAT excluding Investment disposals
Implied FY25 payout vs underlying EPS (47.6p): ~29% (below 40% target; excluding Investment disposals would lift the effective ratio)
Capital returns 2026: planned £200m buyback; total 2026 shareholder cash return (dividends + buybacks) ~£267m

Analysis: Sustainability and Growth

Coverage and cash: Dividend (14.0p) is well covered by underlying EPS 47.6p (~3.4x) and supported by very strong liquidity (average net cash £1,212m; year-end net cash £1,446m). Operating cash conversion benefited from a sizeable working capital inflow in 2025, with 2026 average net cash guided to £1.3–1.5bn.
Earnings trajectory: Board guides to high single-digit PFO growth in 2026 for earnings-based businesses, with improving UK Construction margins, Support Services margin >8%, and US Civils drag diminishing mid-2026. This underpins scope for ongoing dividend growth.
Policy alignment: The 40% payout target (ex-Investment disposals) leaves headroom (FY25 payout ~29%), giving flexibility if Infrastructure Investment gains moderate in 2026 (guided £5–15m vs £36m in 2025).
Capital allocation discipline: Continued multi-year buyback (£200m in 2026) alongside dividend increases signals confidence and supports per-share growth by reducing the share count.
Multi-year visibility: Record £22.7bn order book (+23%) and strong exposure to UK energy/defence and US Buildings provide solid revenue and cash flow visibility to fund dividends.

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
15/05/2025	02/07/2025	Final	8.70p	GBX
30/10/2025	05/12/2025	Interim	4.20p	GBX

Total (Annual Dividends Per Share): 12.90p

Dividend Yield = Annual Dividends Per Share (12.90p) ÷ Share Price (769p) = 1.68%

Ex Dividend Date	Payment Date	Type	Amount	Currency
14/05/2026	01/07/2026	Final	9.8000p	GBX
30/10/2025	05/12/2025	Interim	4.20p	GBX
15/05/2025	02/07/2025	Final	8.70p	GBX
31/10/2024	06/12/2024	Interim	3.80p	GBX
16/05/2024	03/07/2024	Final	8.00p	GBX
26/10/2023	05/12/2023	Interim	3.50p	GBX
18/05/2023	05/07/2023	Final	7.00p	GBX
27/10/2022	05/12/2022	Interim	3.50p	GBX
26/05/2022	06/07/2022	Final	6.00p	GBX
04/11/2021	06/12/2021	Interim	3.00p	GBX
03/06/2021	07/07/2021	Final	1.50p	GBX
21/05/2020	03/07/2020	Final	4.30p	GBX
24/10/2019	06/12/2019	Interim	2.10p	GBX
16/05/2019	05/07/2019	Final	3.20p	GBX
04/10/2018	30/11/2018	Interim	1.60p	GBX
19/04/2018	06/07/2018	Final	2.40p	GBX
05/10/2017	01/12/2017	Interim	1.20p	GBX
20/04/2017	07/07/2017	Final	1.80p	GBX
06/10/2016	05/12/2016	Interim	0.90p	GBX
09/10/2014	05/12/2014	Interim	5.60p	GBX
23/04/2014	04/07/2014	Final	8.50p	GBX
09/10/2013	06/12/2013	Interim	5.60p	GBX

Year	Interim	Final	Currency	Total	Change
2024	3.800	8.000	GBX	11.800	12.380
2023	3.500	7.000	GBX	10.500	10.520
2022	3.500	6.000	GBX	9.500	111.110
2021	3.000	1.500	GBX	4.500	4.650
2020		4.300	GBX	4.300	-18.860
2019	2.100	3.200	GBX	5.300	32.500
2018	1.600	2.400	GBX	4.000	33.330
2017	1.200	1.800	GBX	3.000	233.330
2016	0.900		GBX	0.900	-93.610
2014	5.600	8.500	GBX	14.100	151.780
2013	5.600		GBX	5.600

Number of Shares:

Payment	Paid	Amount
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